Pawning your stuff is a quick and easy way to make money.
Not everything will sell for $500, though.
Identifying items with a higher value can take a bit of creativity. Here are 15 things that you can pawn for $500.
Why Pawn Your Stuff
Pawning your stuff is a good idea for several reasons.
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First, you can make some extra money.
This money can be invested or used to pay off debt.
Second, pawning your stuff means you take out a loan and use it as collateral for the loan.
You will get your stuff back when you pay off the loan.
Finally, you should pawn your stuff because it is a quick and easy way to make money.
You just need to take your items into the pawn shop and negotiate their value.
15 Things to Pawn for $500
Used legos are surprisingly valuable.
Unsorted lego is worth up to $10 per pound.
Sets that are no longer in stores can go for significantly more.
When valuing your lego sets, be sure to value mini-figures separately.
Pawning $500 worth of legos may require searching for good deals at yard sales and online.
You should have a good idea of how to value legos if you want to pawn legos for $500.
There are books and websites you can use to value the legos you find for sale.
2. Vintage Cookware
Some styles of vintage cookware are worth a lot of money.
For example, vintage Corning Ware casseroles made in the 1970s and 1980s are worth $15 to $100.
A complete set of designer casseroles may be worth well over $500.
Authentic cookware often has a brand mark somewhere on the dish.
Without that mark, a pawn shop might doubt its authenticity.
Moreover, if the dish has significant sentimental value, you may want to find another item to pawn since the dish could be broken.
3. Collectible Comic Books
A lot of adults have comic book collections from when they were a kid.
With at least a few collectible editions, you can pawn the collection for $500.
Comic books are popular items in pawn shops, so you will probably have an easier time convincing the pawn shop to let you pawn them.
If one shop says they have too many comic books or they do not accept comic books, it would be worth your time to check with other pawn shops.
4. Playstation 5
The Playstation 5 is still hard to find.
Many pawn shops would openly accept one as a pawn for $500.
Playstation 5 sells for nearly $1,000 new and resells for even more given the demand.
There is a risk in pawning your Playstation 5.
If you do not pay off your loan in time, the pawn shop will make a huge profit off of your gaming system.
You will have lost double what you borrowed.
Some pawn shops accept boats for pawning.
The best pawn shops for pawning boats would be near popular lakes, rivers, and oceans with a lot of recreational or commercial boating.
The best thing about pawning a used boat is that a lot of pawn shops allow you to continue to use the boat.
You will just pawn the title of the boat.
Even though you only pawn the title, many pawn shops will want to inspect the boat before providing a value.
Consider cleaning the boat up to get the best valuation.
6. Power Tools
Power tools are commonly pawned items.
It may take a few power tools to reach $500.
To get the highest loan amount, pawn tools with the best value.
Some brands that are more highly valued are:
- Milwaukee Tool
- Klein Tools
It might be difficult to pawn power tools that you use often or for your work.
You will lose the use of them while they are in the pawn shop.
If you cannot work, you will just dig your hole deeper.
Pawn shops often accept various electronics for pawning.
Better brands and newer electronics will have a higher value.
Some common electronics that are pawned include:
- Digital cameras
- Gaming systems
Electronics are easier to pawn because most pawn shops accept them and most people can go without their use for short periods of time.
Furniture works well as an item to pawn.
Some furniture is worth more than other furniture, though, so try to find higher value items to pawn.
Moreover, a single piece of furniture is unlikely to get $500.
Solid wood furniture from high-end furniture makers is worth the most.
This sort of furniture is often found at estate sales and yard sales.
You may be able to find some of it priced very low if you do not have solid wood, high-value furniture.
Read this for how and where to get “buy now pay later” furniture.
9. Designer Bags
Designer bags are sometimes worth enough to pawn for $500.
Luxury brands like Balenciaga, Louis Vuitton, and Dior are most likely to be valued at over $500.
When you pawn the handbag, be sure to bring it in a dust cover so that it will not get damaged.
Pawn shops typically do not want to risk damage to items that have been pawned since they may get to sell them, but accidents happen.
Textbooks cost upwards of $200 each.
Most undergraduate students have to buy at least three to four textbooks per semester.
That really adds up.
To recoup some cost, you can pawn the textbooks.
The pawn shop may only value them at around $50 each, but you probably have enough of them to get to $500.
The best part of pawning textbooks is that you probably will not need them while they are in the pawn shop.
It would be a bad idea to pawn textbooks for classes where you need them, though.
11. Childhood Toys
If you are in your thirties or later, your childhood toys may have dramatically increased in value.
For example, some 1980s era action figures are worth upwards of $100.
When you decide to pawn your childhood toys, you may find that some of them have more sentimental value.
You will probably want your children to play with some of your favorite toys.
So, think twice before pawning your favorite toys.
You will regret it if you do not get them back out of pawn.
12. Limited Edition Shoes
Limited edition shoes have surged in popularity over the last decade.
Some of the most valuable ones are worth hundreds of dollars.
If you happen to have some of these in perfect condition, you may be able to pawn them for $500.
Examples of highly valuable shoes are Air Jordan III OG, Nike Dunk Low Pro SB Pigeon, and Adidas NMD_R1 Friends and Family.
Not all pawn shops will accept shoes for pawn because there may not be a market for them where you live.
You may need to search around for a good pawn shop that will accept limited edition shoes.
13. Golf Clubs
Some brands of golf clubs will pawn for $500 or more.
Callaway and Titleist golf clubs are worth more than Wilson golf clubs.
When considering which clubs to pawn, look for ones that are free from damage.
For example, the clubhead should not have any dents or chips.
The handle can show some wear since it is easily replaceable.
If you replace the handle before the pawn shop inspects the club, you may receive a higher value.
If you can find vintage golf clubs from reputable brands, you will receive the highest value.
14. Exercise Equipment
Exercise equipment retains its value better than a lot of items.
You can pawn your exercise equipment for about 30% to 75% of its original value, depending on brand, age, and condition.
Treadmills and ellipticals are highly valued at pawn shops.
It may be logistically annoying to transport such large exercise equipment to the pawn shop, though.
Consider also pawning other exercise equipment, like weights and bikes.
15. High School Band Instrument
High school band instruments are great for pawning.
Even older band instruments can pawn for $500 if they are in good condition.
For example, saxophones and flutes often pawn for $500 or more.
But musical instruments like trumpets and clarinets do not value for more than a couple hundred dollars, usually.
Tips for Negotiating With Pawn Shops
The most important way to prepare for pawning your stuff is to know the value of your items.
Try to identify a reasonable value given the condition of your item.
The pawn shop will not offer you the full value of your item.
They need to be able to make a profit.
Moreover, they may require you to pay more to equal the interest rate typically charged on loans.
Try to make minor improvements to your items to increase their value.
For example, polishing musical instruments or dusting electronics may improve their value.
Replacing worn parts on golf clubs and boats will also increase the value.
When you get to the shop, be respectful and let the pawn shop owner take the lead.
Being open to their opinion and reasons for the valuation shows a willingness to negotiate.
Use solid reasons for why you think the value should be higher.
For example, if your boat has upgrades, you should point that out.
If you feel the offer is far too low, do not be afraid to walk out and try another pawn shop.
Try to leave on good terms, though, in case you find out this was the best offer you can get.
Pawn vs. Sell
Pawning an item is different from selling an item to a pawn shop.
When you pawn an item, you are essentially taking a loan from the pawn shop with your item used as collateral.
Usually, a pawn shop will loan you about ⅓ of what they can make selling your stuff.
If you do not pay off the loan in time, the pawn shop gets to keep your stuff and sell it to cover the balance of the loan.
Many states heavily regulate pawn shops.
They must perfect their pawns in a certain way, meaning the terms must be written down in a clear way.
The regulations include limitations on the interest rates for the loans and how loans based on title, like car titles and boat titles, must be recorded.
Things to Sell at Pawn Stores FAQs
How Long Do I Have to Repay My Pawn Shop Loan?
Most pawn shops allow 30 days to repay the loan and get your stuff out of the pawn.
If you cannot repay the loan, you can surrender the stuff that you pawned as payment for the loan.
Some pawn shops allow for a 30 day grace period.
Some pawn shops also allow you to pay a monthly fee to extend the time you have to repay the loan.
What if My Pawned Item Gets Damaged or Sold?
Sometimes pawn shops accidentally damage or sell pawned items.
Pawned things should be kept in a separate area away from the items for sale, but accidents happen.
Moreover, sometimes pawn items are damaged, like if the pawn shop catches fire.
This issue gets tricky, though, when you have not paid off your loan.
If you have partially paid, then the pawn shop owes you for the value of the item that you have paid.
You may need a court to decide whether they must give you the full value of your item since you had not paid off the loan in full.
Some pawn shops may reimburse you the full value of the item since they likely receive insurance reimbursement for damaged items.
If you suspect the pawn shop is running a scam and your item is not, in fact, destroyed, you can file a police report and small claims court case to recover the value of your stuff.
You probably have a lot of stuff that can be pawned for $500.
Even if you do not, you can find stuff worth pawning at yard sales, estate sales, and in online marketplaces.
You will likely be able to pawn items for about ⅓ of their value.